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The final Spring 2021 Radio Entrepreneurs Panel as Stephen Wilchins and Others Discuss “Entitlement & Compensation Within Family Businesses” – Part 3

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The final panel in the Spring 2021 Radio Entrepreneurs Family Business Panel (FBA) discusses compensation within a family business. An ever present challenge as family businesses have the added complexities of personal relationships, emotions and additional pressures to care for the family. In this panel, Stephen Wilchins, founding partner at WCN, and the other panelists discuss the value of compensation studies, seeking outside objective insight into evaluating compensation. All reiterate the importance that compensation in a family business be based on roles and responsibilities and contributions through salaries and incentives. The panel discusses the challenges often seen in compensating family members to support a lifestyle that may be out of balance with their contributions to the business.

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